DGAP-News

PUMA SE: PUMA's Third Quarter Sales Improve - Seite 2

Americas, as North America continued to benefit from improved wholesale
business, including key account initiatives like the PUMA Labs at Foot
Locker. Sales in Latin America also rose, supported by a strong Teamsport
business within the region.

Asia/Pacific sales increased by 10.7% currency adjusted to EUR 191 million
due to growth in all key markets, including India, China, Korea and Japan.
This growth was supported by the successful start of the Forever Faster
brand campaign, the positive reception of PUMA's new Arsenal jerseys and a
strong Accessories business.

All product segments positive
Third quarter Footwear sales rose by 2.0% currency adjusted to EUR 374
million as Teamsport sales, particularly the PUMA evoSPEED boot, continued
to improve.

PUMA's third quarter Apparel sales rose by 11.4% currency adjusted to EUR
323 million, supported by strong demand for our Teamsport products,
especially Arsenal jerseys and kit.

Accessories sales also improved by 7.5% currency adjusted to EUR 147
million due to continued demand for socks and bodywear. However, Golf
equipment sales declined in the quarter as the golfing environment remained
very weak.

Gross profit margin lower
PUMA's gross profit margin declined from 47.1% to 46.3% for the third
quarter of 2014 on the back of adverse currency impacts as well as shifts
within the product mix which influenced the margin negatively. In addition,
stronger sales in our distribution business within Latin America,
particularly in Footwear, led to a decline in the Footwear margin from
44.4% to 41.9%. Apparel margin decreased slightly from 49.9% to 49.6%.
However, the margin for Accessories improved from 48.6% to 50.3%.

OPEX increased
PUMA's operating expenditures increased as expected in the third quarter,
from EUR 309 million to EUR 349 million, due to the higher marketing
expenditures associated with the Arsenal partnership and the launch of the
Forever Faster brand campaign ahead of the back-to-school season.

Operating Result (EBIT) decreased
The decline in PUMA's operating result (EBIT) from EUR 80 million to EUR 46
million in the third quarter of 2014 is mainly due to significantly higher
marketing expenditures within the OPEX.

Financial Result
The financial result improved from EUR -1.5 million to EUR -0.7 million in
the third quarter. The result remained negative due mainly to currency
conversion impacts.

Net earnings
PUMA's consolidated net earnings declined from EUR 53 million to EUR 29
million. As a result, earnings per share decreased from EUR 3.53 to EUR